Troubled Computer-Maker
Plans Asset Sales to Cut Debt

MILAN -- At the urging of its restive bankers, ailing computer maker Olivetti SpA said it would bite the bullet and auction prized assets to pay off debt.

Roberto Colaninno, Olivetti's new chief executive, said in an interview he plans to raise 800 billion lire ($527 million) by the end of the year, in part by selling a piece of Olivetti's crown jewel, cellular-phone company Omnitel Pronto Italia SpA. The surprise sale, which industry...